Trading ideas: Genting Malaysia, MQ Technology, Jiankun International, Yinson, AME REIT and Suria Capital

KUALA LUMPUR: Stocks in focus on Tuesday include Genting Malaysia, MQ Technology, Jiankun International, Yinson, AME REIT and Suria Capital, said Apex Research.

In its daily market report, Apex said Genting Malaysia Bhd is investing another US$100 million to acquire convertible preferred stock in Empire Resorts Ic.

MQ Technology Bhd has redesignated Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi’s daughter Datuk Nurulhidayah Ahmad Zahid as its group chairman.

Jiankun International Bhd has appointed Nurulhidayah’s husband, Datuk Saiful Nizam Mohd Yusoff, as president of the group.

Yinson Holdings has bagged an FPSO contract in Angola worth RM956 million.

AME REIT has proposed to acquire three industrial properties in Iskandar Malaysia for RM69.3 million.

Suria Capital Holdings Bhd has commenced negotiation with the Sabah state government for a 30-year extension to its concessions to operate ports in Sabah.

Meanwhile, Apex said the FBM KLCI could remain sluggish with support at 1,465 points following the negative performance on Wall Street.

The US market tumbled overnight following concerns that the Federal Reserve will continue to hike interest rates aggressively after the recent nonfarm payroll data.

Earlier, European stocks also declined as oil prices dropped and investors monitored China's relaxation of Covid-19 restrictions.

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